The Minerva-Zen: Crew Feedback and Vessel Data

On June 25, 2015, the tanker Minerva Zen encountered difficulties, likely stemming from a steering malfunction. The vessel has been adrift in the Bay of Biscay, maneuvering in an east-west orientation approximately 95 miles north of La Coruna. Originally, the Minerva Zen was making its way from Las Palmas to Fredericia when the incident occurred.

Torm has announced that it will be parting ways with its MR product tanker, Torm Lana, through a recently inked sale agreement. Although the sales price remains undisclosed, the transaction is set to close with the new owner taking delivery either in the latter half of March or early April 2012. This move, while strategically beneficial, is projected to incur a P&L loss of about USD 15 million, an impact that will be reflected in Torm's financial reports for the first quarter of 2012. Despite the loss, the deal will provide Torm with a positive cash flow of around USD 4 million. Post-sale, Torm's owned fleet will include 66.5 product tankers and two dry bulk vessels, alongside one additional product tanker currently on order.